PRHSX vs. SHSAX

Last updated Jun 3, 2026

PRHSX (T. Rowe Price Health Sciences Fund) and SHSAX (BlackRock Health Sciences Opportunities Portfolio) are both Health & Biotech Equities funds. Over the past 10 years, PRHSX returned 10.22%/yr vs 9.30%/yr for SHSAX. Their correlation of 0.93 suggests significant overlap in exposure. PRHSX charges 0.80%/yr vs 1.09%/yr for SHSAX.

Performance

PRHSX vs. SHSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Health Sciences Fund (PRHSX) and BlackRock Health Sciences Opportunities Portfolio (SHSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRHSX achieves a -3.09% return, which is significantly higher than SHSAX's -3.86% return. Over the past 10 years, PRHSX has outperformed SHSAX with an annualized return of 10.22%, while SHSAX has yielded a comparatively lower 9.30% annualized return.

PRHSX

• 1D: -1.75%
• 1M: 2.20%
• YTD: -3.09%
• 6M: -2.56%
• 1Y: 20.64%
• 3Y*: 5.93%
• 5Y*: 3.12%
• 10Y*: 10.22%

SHSAX

• 1D: -1.30%
• 1M: 1.90%
• YTD: -3.86%
• 6M: -3.86%
• 1Y: 14.81%
• 3Y*: 6.31%
• 5Y*: 4.14%
• 10Y*: 9.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PRHSX vs. SHSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRHSX T. Rowe Price Health Sciences Fund	-3.09%	17.75%	1.82%	3.03%	-12.22%	13.50%	30.19%	37.88%	1.08%	28.04%
SHSAX BlackRock Health Sciences Opportunities Portfolio	-3.86%	15.85%	3.73%	3.59%	-5.94%	11.88%	19.44%	25.27%	7.93%	24.74%

Correlation

The correlation between PRHSX and SHSAX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 4, 2000	0.93

The correlation between PRHSX and SHSAX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

PRHSX vs. SHSAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRHSX

PRHSX Risk / Return Rank: 22
PRHSX Sharpe Ratio Rank: 25
PRHSX Sortino Ratio Rank: 26
PRHSX Omega Ratio Rank: 21
PRHSX Calmar Ratio Rank: 20
PRHSX Martin Ratio Rank: 17

SHSAX

SHSAX Risk / Return Rank: 15
SHSAX Sharpe Ratio Rank: 15
SHSAX Sortino Ratio Rank: 16
SHSAX Omega Ratio Rank: 14
SHSAX Calmar Ratio Rank: 17
SHSAX Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PRHSX vs. SHSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Health Sciences Fund (PRHSX) and BlackRock Health Sciences Opportunities Portfolio (SHSAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PRHSX	SHSAX	Difference
Sharpe ratio Return per unit of total volatility	1.46	1.12	+0.34
Sortino ratio Return per unit of downside risk	2.17	1.71	+0.45
Omega ratio Gain probability vs. loss probability	1.25	1.20	+0.05
Calmar ratio Return relative to maximum drawdown	1.70	1.55	+0.14
Martin ratio Return relative to average drawdown	4.93	3.92	+1.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRHSX vs. SHSAX - Sharpe Ratio Comparison

The current PRHSX Sharpe Ratio is 1.46, which is higher than the SHSAX Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of PRHSX and SHSAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRHSX	SHSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.12	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.29	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.56	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.72	-0.10

Drawdowns

PRHSX vs. SHSAX - Drawdown Comparison

The maximum PRHSX drawdown since its inception was -42.96%, which is greater than SHSAX's maximum drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for PRHSX and SHSAX.

Drawdown Indicators

	PRHSX	SHSAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.96%	-35.49%	-7.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.81%	-9.87%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-21.00%	-16.08%	-4.92%
Max Drawdown (5Y) Largest decline over 5 years	-27.61%	-17.99%	-9.62%
Max Drawdown (10Y) Largest decline over 10 years	-28.97%	-28.36%	-0.61%
Current Drawdown Current decline from peak	-6.13%	-6.63%	+0.50%
Average Drawdown Average peak-to-trough decline	-8.75%	-6.18%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.41%	3.91%	+0.50%

Volatility

PRHSX vs. SHSAX - Volatility Comparison

T. Rowe Price Health Sciences Fund (PRHSX) has a higher volatility of 4.35% compared to BlackRock Health Sciences Opportunities Portfolio (SHSAX) at 3.82%. This indicates that PRHSX's price experiences larger fluctuations and is considered to be riskier than SHSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRHSX	SHSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	3.82%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	10.27%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	15.31%	13.67%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	14.35%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	16.53%	+2.72%

PRHSX vs. SHSAX - Expense Ratio Comparison

PRHSX has a 0.80% expense ratio, which is lower than SHSAX's 1.09% expense ratio.

Dividends

PRHSX vs. SHSAX - Dividend Comparison

PRHSX's dividend yield for the trailing twelve months is around 12.48%, more than SHSAX's 11.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRHSX T. Rowe Price Health Sciences Fund	12.48%	12.09%	12.89%	5.21%	1.77%	7.46%	7.16%	12.29%	6.57%	7.43%	4.55%	11.34%
SHSAX BlackRock Health Sciences Opportunities Portfolio	11.06%	10.63%	9.18%	3.84%	7.44%	9.20%	4.34%	3.89%	8.56%	3.53%	2.43%	12.58%

Frequently Asked Questions

Can I hold both PRHSX and SHSAX in my portfolio?

With a correlation of 0.94, PRHSX and SHSAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PRHSX or SHSAX?

PRHSX has higher volatility (4.35%) compared to SHSAX (3.82%). In terms of maximum drawdown, PRHSX dropped -42.96% vs SHSAX's -35.49%.

Which has better risk-adjusted returns?

PRHSX currently has the higher Sharpe Ratio (1.46 vs 1.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.